Penalty for failure to furnish statement
169. Where an assessee fails to furnish the statement within the time prescribed under sub-section (1) or sub-section (3) of section 164, he shall be liable to pay a penalty of one hundred rupees for each day during which the failure continues.
Notes on Clauses:
Clause 169 of the Bill provides for penalty for failure to furnish statement under section 164. The penalty in such cases will be one hundred rupees for every day during which the failure continues.
